NEW YORK (TheStreet) -- Shares of Estee Lauder (EL) are jumping by 4.14% to $87 in pre-market trading on Tuesday morning, after the cosmetics company posted better than expected earnings results for the fiscal 2015 third quarter.
Estee Lauder said its earnings for the most recent quarter grew by 30% to 71 cents per diluted share. Analysts polled by Thomson Reuters had forecast for earnings of 51 cents per share.
Net sales for the third quarter increased by 1% to $2.58 billion versus the $2.54 billion analysts were looking for.
"Our growth this quarter again came from multiple engines, with particular strength in the United Kingdom and emerging markets, our luxury and makeup brands, and online, specialty-multi and freestanding store channels. Confirming the underlying strength of our brands and programs, we generated these outstanding results in the face of challenges in several countries and continued currency headwinds," company CEO Fabrizio Freda said in a statement.
TheStreet's Jim Cramer, portfolio manager of the Action Alerts PLUS Charitable Trust had this to say: "The high end is alive and well and these guys really get it."
Separately, TheStreet Ratings team rates LAUDER (ESTEE) COS INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate LAUDER (ESTEE) COS INC (EL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, good cash flow from operations and increase in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."